Dubai aims to attract critical knowledge and partners during US mission

Dubai, 22nd March, 2015 (WAM): Partnership opportunities for the UAE and US in critical industry sectors as well as job creation and knowledge transfer through bilateral exports and investment will be on focus as a delegation of representatives from key government and government-related entities in Dubai start their tour of four major US cities on the 22nd of March 2015. The delegation, co-ordinated by Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED), will address business leaders and trade representatives in Boston (Massachusetts), Atlanta (Georgia), Chicago (Illinois) and the national capital Washington, D.C. as part of their 10-day US itinerary. Transport-related exports to the UAE have enabled the state of Georgia alone create 7,158 additional jobs between 2006 and 2013, while Chicago, a major exporter of construction equipment and machinery to the UAE, has generated over 1,500 additional jobs. Washington D.C. has investment from Dubai World, Dubai Holding, Dubai Aerospace Enterprises and Emirates among other UAE entities within the capital district while Massachusetts has varied joint initiatives in the UAE including the Harvard Medical School - Dubai and a Boston University dental school in Dubai Healthcare City. The Dubai delegation will conduct a series of presentations, discussions and informal meetings in the host cities with the objective of introducing Dubai as a competitive business destination with a wide regional coverage and demonstrate Dubai's interest in developing mutually beneficial partnerships with US companies and entrepreneurs. The delegation comprises senior executives from Dubai, Dubai Department for Tourism and Commerce Marketing (DTCM), Jebel Ali Free Zone Authority (Jafza), Dubai Multi Commodities Centre ( DMCC ), Emirates, Emirates SkyCargo and Dubai Exports , the export promotion agency of DED . "Trade relations between the UAE and the US have continued to flourish, especially in critical economic sectors. For both sides it's the right time to seize the moment and take our engagement to a new level wherein businesses can successfully pursue new market opportunities and new jobs can be created for citizens. Dubai can convincingly address the US investor community with the proven advantages of our bilateral engagement till date," said Fahad Al Gergawi, Chief Executive Officer of Dubai FDI. Trade between the UAE and US reached Dh91.3 billion (US$24.9 billion) in 2014 as the UAE remained the top export destination for the US in the entire Middle East and North Africa (MENA) for the sixth year in a row. The Dubai delegation intends to target the leading economic sectors in each of its host cities in the US and connect with business leaders in those sectors. "Many investors from Dubai and the UAE have made successful forays into the US market and US technology and aviation companies have established long-term partnerships with UAE businesses. We are going to the US with success stories from the emirate and an innovative model of doing business that can help investors grow internationally," Al Gergawi said. Engineer Saed Al Awadi, Chief Executive Officer of Dubai Exports said the co-ordinated efforts of DED agencies have helped the local business sector promote the emirate as an export and re-export destination for foreign trade. "We have seen a 22.3 per cent growth in UAE exports to the US in 2014 compared to 2013, largely due to rising exports and re-exports of consumer electronics, precious stones and other non-oil commodities. Many UAE businesses have investments in the US market, mainly because they see it as a gateway to neighbouring markets and our participation in the delegation to the US will enable us to highlight the export potential of UAE companies," added Al Awadi. Issam Kazim, CEO of DTCM, commented: "I am delighted that the Dubai Corporation for Tourism and Commerce Marketing has the opportunity to join Dubai FDI on this important mission to the US. We very much look forward to supporting their efforts by showcasing Dubai as an attractive destination not only for investment, but also in terms of lifestyle and tourism. I have no doubt that the road show will be a great success for all parties involved." Ibrahim Mohamed Aljanahi, Deputy CEO - Commercial, commenting on Jafza 's participation in the delegation pointed out that the Free Zone is already home to more than 340 US multinationals that include a large number of Fortune 500 companies such as EXXON Mobil, DOW, Emerson, Schlumberger, Ford, GM, GE, Johnson & Johnson, Merck, Caterpillar, PepsiCo, P&G, Sysco, HP, FedEx, UPS and Black & Decker among others. "Dubai, by virtue of its world-class infrastructure and integrated ecosystem, remains the gateway and trade and commerce hub for the entire Middle East that ranks among the fastest growing regions in the world. Jafza , as Dubai's flagship Free Zone and the resource-rich facilitator and logistics hub for the region, has been attracting large multinationals from across the world including the US, which serve all the key markets in the region with great efficiency. This is the reason why Financial Times' fDi magazine has ranked Jafza the Best Free Zone in the world and in Middle East for Large Multinationals," said Aljanahi. "US- Jafza bilateral trade in 2014 is estimated to have crossed USD 4 billion which is generated largely from re-exports to key markets in the region. As part of the Dubai Government mission we wish to offer US businesses the finest facilities and services, which they can use to capitalise on huge opportunities the region offers," added Aljanahi. Ahmad Hamza, Director of Operations, DMCC remarked that the US mission is a valuable way to way to engage with key stakeholders and identify new areas for collaboration as they seek to attract more fast growing corporations to the DMCC Free Zone. "The UAE is one of the most important markets for US exports in the Middle East and has a prosperous US business community established in a variety of sectors and activities. DMCC Free Zone is also home to many leading American companies from different sectors such as fast moving consumer goods, manufacturing, trading, food industry as well as research and development companies. Looking to the future, the US is a market of focus for us," said Hamza. The Dubai mission is supported by the US Commercial Services, State Offices, USA-UAE Business Council, UAE Embassy and the World Trade Centres in the respective states. – Emirates News Agency, WAM – http://www.wam.ae/en/news/economics/1395278250522.html